Jordi Gali Spanish macroeconomist Date of Birth: 04.01.1961 Country: Spain

1. Early Life and Education
2. Academic Career
3. Research Interests
4. The Phillips Curve and Bank Lending
5. The New Keynesian Model
6. Awards and Honors

Early Life and Education

Jordi Galí is a Spanish macroeconomist who earned his PhD in Economics from the Massachusetts Institute of Technology (MIT) in 1989 under the supervision of Olivier Blanchard.

Academic Career

After completing his doctorate, Galí held positions at Columbia University and New York University. He is currently the Director of the Centre for Research in International Economics (CREI) at Universitat Pompeu Fabra in Barcelona and a Professor at the Barcelona Graduate School of Economics.

Research Interests

Galí has made significant contributions to research in economic cycles and monetary policy optimization. In collaboration with Richard Clarida and Mark Gertler, he investigated monetary policies in various countries and concluded that, unlike in the 1970s, central bank policies in many countries now resemble Taylor rules.

The Phillips Curve and Bank Lending

Galí and Gertler also studied bank lending rates. Their 1999 paper proposed an explanation for the Phillips curve, which has long been a subject of economic debate. They argued that inflation expectations, often estimated as the previous period's inflation, play a crucial role in the relationship between inflation and unemployment.

The New Keynesian Model

Galí is a leading expert in the field of New Keynesian macroeconomic models. In 2008, Princeton University Press published his monograph "Monetary Policy, Inflation, and the Business Cycle." This book provides an introduction to New Keynesian models and analyzes their implications for monetary policy.

Awards and Honors

In 2005, Galí was awarded the Yrjö Jahnsson Award from the European Economic Association, which he shared with Timothy Besley of the London School of Economics.